Press Release

Sanchez Energy Announces Acquisition Significantly Expanding Its Assets in the Eagle Ford Trend of South Texas

$265 MILLION ACQUISITION ADDS APPROXIMATELY 13.4 MMBOE OF PROVED RESERVES, 4,500 BOE/D OF CURRENT PRODUCTION AND 43,000 NET ACRES TO THE COMPANY'S ASSET BASE

HOUSTON, March 18, 2013 /PRNewswire/ -- Sanchez Energy Corporation (NYSE: SN), a fast growing independent oil and gas company targeting the liquids-rich Eagle Ford Shale, Pearsall Shale, Austin Chalk, and Buda Limestone, today announced it has executed a definitive agreement to purchase assets in the Eagle Ford trend of south Texas consisting of approximately 13.4 MMBOE of proved reserves, 4,500 BOE/D of current production and approximately 43,000 net acres in Dimmit, Frio, LaSalle, and Zavala Counties, Texas from Hess Corporation for approximately $265 million in cash, subject to customary adjustments.

Transaction Highlights

Sanchez Energy to acquire operated assets with high working interests in approximately 43,000 net acres in the Eagle Ford Shale in Dimmit, Frio, LaSalle, and Zavala Counties, Texas with an effective date of March 1, 2013 for approximately $265 million.

Transaction grows production significantly at a cost of approximately $59,000 per flowing BOE/D and adds proved reserves at a cost of approximately $19.70 per BOE.

Tony Sanchez, III, President and Chief Executive Officer, said, "The Eagle Ford assets we are acquiring are highly strategic and accretive on a variety of metrics, and provide critical mass and scale for the Company by significantly increasing our reserves and more than doubling our current production rate. Pro forma for the acquisition, our percentage of proved developed reserves, total producing wells and low risk development drilling locations will each increase substantially, increasing our near term growth opportunities, growing our resource potential while also increasing our financial flexibility and funding capacity."

Sanchez continued, "Our current plans call for continuous drilling of development locations on this asset with one rig while we further assess the additional upside potential across the entire asset base. The acquired assets are expected to generate sufficient cash flow to fund our currently contemplated development drilling program for these assets. We expect to be able to leverage our operating and technical familiarity with this area with no disruptions to our current operations in a cost effective manner. We will initially focus on the development of the Eagle Ford section; however, this area is currently experiencing considerable Buda Limestone and Pearsall Shale activity from other operators which may provide us with additional potential growth opportunities. This transaction highlights the strengths of the Sanchez Energy story, namely, that our many decades of local expertise and relationships place us in a position to execute a positive, bolt-on transaction such as this in a world-class basin at a very compelling valuation."

Transaction Details and Financial Considerations

The proposed acquisition includes estimated proved reserves of 13.4 MMBOE (70% oil) with estimated proved developed reserves of 6.6 MMBOE (64% oil). The proved reserves were estimated by the Company's internal reserve engineers, and confirmed by the Company's third party independent engineering firm, Ryder Scott Company, L.P. as of March 1, 2013. The acquired properties currently have 50 gross operated producing wells and an estimated current net production of approximately 4,500 BOE/D (72% oil). The acquisition is expected to close in the second quarter of 2013, with an effective date of March 1, 2013 and is subject to regulatory filings and other customary closing conditions. Moelis & Company acted as financial advisor to the Company in this transaction.

In connection with the acquisition, the Company has secured commitments for $325 million in debt financing and expects to access the capital markets in the near term, subject to market conditions and other factors. Closing of the acquisition and availability of the debt financing are expected to occur concurrently in the second quarter of this year and will be subject to the satisfaction of various customary closing conditions.

About Sanchez Energy Corporation

Sanchez Energy Corporation is a Houston, Texas based growth oriented independent exploration and production company currently focused on the prolific Eagle Ford Shale trend of south Texas. The company has approximately 95,000 net acres targeting the liquids-rich Eagle Ford Shale, Pearsall Shale, Austin Chalk, and Buda Limestone. For more information about Sanchez Energy Corporation, please visit our website: www.sanchezenergycorp.com

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Sanchez Energy expects, believes or anticipates will or may occur in the future are forward-looking statements, including statements relating to further expansions in its borrowing base, the consummation of the acquisition, the anticipated benefits of the acquisition if it is consummated, expected timing of the completion of the acquisition, successfully obtaining the financing for the proposed acquisition and other aspects of the proposed acquisition. These statements are based on certain assumptions made by the company based on management's experience, perception of historical trends and technical analyses, current conditions, anticipated future developments and other factors believed to be appropriate and reasonable by management. When used in this press release, the words "will," "potential," "believe," "estimate," "intend," "expect," "may," "should," "anticipate," "could," "plan," "predict," "project," "profile," "model," or their negatives, other similar expressions or the statements that include those words, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Sanchez Energy, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, including but not limited to, the ability to satisfy all conditions precedent under the relevant acquisition or loan documents and to successfully consummate the transactions contemplated by these documents, assumption of unknown liabilities in the acquisition, failure of the acquired assets to produce as anticipated, failure to successfully integrate the acquired assets, loss of our deposit under the acquisition agreement, continued production of oil and gas at historical rates, costs of operations, delays, and any other difficulties related to producing oil or gas, the price of oil or gas, marketing and sales of produced oil and gas, estimates made in evaluating reserves, competition, general economic conditions and the ability to manage and continue growth and other factors described in Sanchez Energy's Annual Report for the fiscal year ended December 31, 2011 and any updates to those risk factors set forth in Sanchez Energy's Quarterly Reports on Form 10-Q. Further information on such assumptions, risks and uncertainties is available in Sanchez Energy's filings with the Securities and Exchange Commission ("SEC"). Sanchez Energy's filings with the SEC are available on its website at www.sanchezenergycorp.com and on the SEC's website at www.sec.gov. Any forward-looking statement speaks only as of the date on which such statement is made and Sanchez Energy undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Cautionary Note to U.S. Investors

The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. We may use certain terms in our press releases, such as net resource potential and other variations of the foregoing terms that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the reserves disclosures in our filings with the SEC available on our website at www.sanchezenergycorp.com and the SEC's website at www.sec.gov. You can also obtain this information from the SEC by calling its general information line at 1-800-SEC-0330.